What Should You Do to Confirm Your Pending Bitcoin Transactions Fast?

 

Bitcoin is fast becoming quite a popular currency system. Those who use this currency have complete freedom to do whatever they want with it. It's because there are numerous copies of the transaction's database, and so, none can seize your bitcoins. However, sometimes, it takes a long time for a bitcoin transaction to get confirmed. When you have pending bitcoin transactions and want them to get confirmed sooner, you can complete the A Child Pays for Parent (CPFP) transaction. It is a high-fee transaction that you do to yourself. Many people might not know the right way of completing such a transaction. This article will provide you with the causes behind this problem and the necessary steps to help you confirm the status of your transaction. 

 


What are the Causes Behind Pending Bitcoin Transactions?

The major reason behind pending transactions bitcoin is Mempool congestion. Mempool stands for 'Memory' and 'Pool.' It is a method by which bitcoin stores unconfirmed transactions before they're confirmed. Mempool congestion happens when there are numerous unconfirmed bitcoin transactions that are currently waiting to get approved. The causes of Mempool congestion include:

  • High transaction volume, which is the situation when there are loads of transactions that need to be confirmed. The volume of confirmations required is so high that it cannot be processed quickly. 
  • An abrupt decrease in trade, in which there are insufficient miners to confirm every transaction, can also cause bitcoin pending transactions. 

 



What Can You Do to Confirm Pending Transactions Bitcoin?

You can complete a CPFP transaction if you want to get your confirmation faster. A CPFP transaction implies that the child transaction is paying. It is also compensating for the parent transaction with the purpose that both of them can be confirmed quickly. This type of transaction is a method by which you unstick your steadily confirming incoming transactions by creating another transaction (child transaction) with greater fees. It is done by utilising the funds or outputs from the prior transaction (parent transaction) that is pending. 

 


At first glance, you may assume that this transaction is difficult to execute. But that's not the case. Follow the steps given below for confirming your bitcoin pending transactions by way of CPFP transactions. 

  • The first step involves copying the receiving address from that wallet from which you sent the prior transaction. For it, launch the wallet, request, and then copy the address. 
  • Navigate back and then tap on 'Send.' Paste the receiving address you have copied here. 
  • Click on the field of 'Fee.' Modify Mining Fee and set it to high. 
  • Click on the sum to send and click 'Max.'
  • For confirming, slide.

 



Final Words

After reading this guide, you will be able to confirm pending bitcoin transactions easily. Now you don't need to be concerned about your transaction's status. Although it requires greater mining fees, you will get the transaction status confirmed rapidly. 

 

 

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